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IB Business & Management

IB Business & Management. Topic 1 – Business Organisation and Environment ORGANISATIONAL PLANNING TOOLS. Learning Objectives . Analyse the importance of business plans to stakeholders Apply a formal decision making framework to a business situation

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IB Business & Management

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  1. IB Business & Management Topic 1 – Business Organisation and Environment ORGANISATIONAL PLANNING TOOLS

  2. Learning Objectives • Analyse the importance of business plans to stakeholders • Apply a formal decision making framework to a business situation • Prepare a SWOT analysis for a business situation • Analyse an organisations position using a SWOT analysis • HL – Analyse and interpret business plans • HL - Apply decision making processes and planning tools • HL - Compare and contrast scientific and intuitive decision making processes • HL - Construct and interpret decision trees and evaluate this technique

  3. Business Planning • An excellent example of how business entrepreneurs can increase their chances of success and gain acceptance from stakeholders • Business Plans give clear explanations of: • Who the business owners are, their strengths and experiences • The central purpose of the business and the intended market • Benefits to consumers of using the business • The market research undertaken • Financial forecasts and the borrowings required • The main risks likely to be faced by the business Business Plan – A written document that describes a business, its objectives, the market its in and its financial forecasts

  4. Why would you advise new entrepreneurs to write a detailed business plan? • Which stakeholders would find a plan useful, and why?

  5. Making Strategic Decisions • Made at the top of the hierarchy • May require high capital investment • Once made difficult to reverse • Long term direction of business • Aim at meeting corporate objectives • Will impact upon different stakeholders All business must plan for the future – corporate planning

  6. Business planning • http://www.entrepreneur.com/how-to-write-a-business-plan • Go onto the following website and write down the different parts of a business plan and what goes into each section

  7. Business Plans – The Importance • Most important when setting up a new business, but, should be referred to and updated when important strategic choices are being made too • Main purpose is to obtain finance • Planning process is very important • Financial and other forecasts can be used as targets

  8. Stakeholders as users of business plans • Business plans can be of real benefit to new and existing stakeholders of a business • Which stakeholders may find a business plan useful? In both, new and existing businesses?

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